Iran Oil and Gas News

South Korea imported no Iranian crude for the fourth straight month in December due to the re-imposition of US sanctions on Tehran, while intakes from the US and Kazakhstan rose sharply as…

Crude oil and petroleum products’ swap deals have expired and are not extended yet, managing director of the Iranian Oil Pipeline and Telecommunications Company Abbas-Ali Jafari-Nasab said.

National Iranian South Oil Company and Iran Central Oil Fields Company, both subsidiaries of the National Iranian Oil Company, signed contracts with domestic oil and gas companies on Tuesday to…

The National Iranian Drilling Company has drilled and repaired 105 onshore and offshore wells since last March, the company’s deputy managing director for drilling operations said.

Oil Minister Bijan Namdar Zanganeh said Sunday gasoline needs are now fully supplied by domestic refineries and imports ended in September. "Gasoline production has reached 95 million liters…

Khazar Exploration and Production Company welcomes international companies in the oil industry in the Caspian region but will not wait for them, the managing director said.

China’s state-run energy giant is making a new approach to strike a $3 billion Iranian oil field, seeking to take advantage of waivers allowed under US sanctions even as two European nations…

The third round of crude oil sales will be held on Iran Energy Exchange on January 21, a National Iranian Oil Company official said.

Selling crude to potential customers is a challenging enterprise when a country is under sanctions, but Iran has found shadow markets that can help it continue to sell oil.

Iraq and Iran are exploring ways to develop two shared oilfields despite US efforts to isolate Tehran from global oil markets. Thamir Ghadhban, Iraq’s oil minister, made the statement in…

Turkey has resumed imports of Iranian crude oil after a one-month hiatus in November when US sanctions on Iran were reimposed, trading and shipping sources said.

India has begun paying Iran for oil in rupees, a senior bank official said Tuesday, the first such payments since the United States imposed new sanctions against Tehran in November. Washington…

Extended financial constraints in and procrastination by Islamabad notwithstanding, energy officials in Tehran are still hopeful that the long-delayed gas project with Pakistan will eventually…

National Iranian Drilling Company has indigenized 5,000 more drilling parts in collaboration with domestic manufacturers and engineers over the past two decades,  the head of NIDC's…

Subsea pipe laying of the second main pipeline of phases 22-24 of the South Pars Gas Field in the Persian Gulf hve been completed, the three phases’ development manager Farhad Izadjoo said. Now…

The eight traditional customers that got a waiver from the US to continue importing specific quantities of Iranian oil are fully compliant with the sanctions, Iran's deputy oil minister for…

The exploration arm of National Iranian Oil Company has been authorized by the Oil Ministry to start the second phase of studies on unconventional hydrocarbon basins, head of the R&D…

Forecasting the future of the oil market is crucial, especially for countries where oil export is the lifeblood of the economy and budgets are constructed, deconstructed and reconstructed…

The Iranian Oil Pipeline and Telecommunication Company's Tehran office annually supplies over 45 billion liters of crude and petroleum products to the northern provinces, the managing director…

Imports of Iranian crude oil by major buyers in Asia hit their lowest in more than five years in November as US sanctions on Iran’s oil exports took effect last month, government and ship-…

As per the 2019-20 fiscal budget bill, a barrel of crude is calculated at $54, Oil Minister Bijan Namdar Zanganeh told the ministry’s website Shana on Wednesday.

After two successful offerings of crude oil on Iran Energy Exchange (IRENEX), officials have now rejiged the trading terms based on the needs of stakeholders.  According to Ali Hosseini,…

Raising production from the South Azadegan Oilfield in Khuzestan Province with the help of skid-mounted processing units and mobile oil treaters is a priority of the Petroleum Engineering and…

The National Iranian Drilling Company, a subsidiary of National Iranian Oil Company, undertakes most drilling operations across the country and drilled 4,489 onshore and offshore oil and gas…

Head of exploration department of the National Iranian Oil Company said Monday cooperation with international companies on studying new oil and gas fields is underway and 13 fields were…